Markets
| % Change | YTD (%) | ||
| NGX ASI | 64,625.28 | -0.47% | 26.1% |
| Brent Crude Oil | 83.46 | -1.68% | -2.85% |
| Natural Gas | 2.59 | -2.44% | -36.83% |
| I&E FX Window | 759.86 | 1.59% | -69.56% |
| Parallel Market | 935.00 | 0.64% | -26.35% |
| Nigerian Treasury Bill (Average Yield %) | 6.94% | 0.00% | 14.68% |
| FGN Bonds (Average Yield %) | 13.84% | 0.07% | 17.09% |
| Gold | 1,893.04 | -0.19% | 4.35% |
| Cocoa | 3,372.00 | 1.17% | 29.40% |
- The benchmark NGX All-Share Index (ASI) shed 303.70 (-0.47%) points to close at 64,625.28, representing a week gain of 0.71%, 4-week gain of 1.36%, and an overall year-to-date gain of 26.1%. NEM Insurance share price declined by 10%, followed by Sunu Assurances Nigeria (-8.51%), Guinea Insurance (-7.89%) and Cornerstone Insurance Company (-7.09%). It was a very bad day for insurance companies.
- Oil prices settled lower on Wednesday despite a large drawdown in US crude stocks as investors’ worries about China’s embattled economy against expectations of tighter supply in the United States. Brent crude futures fell US $1.44, or 1.7%, to settle at US $83.46 a barrel while U.S. West Texas Intermediate crude (WTI) fell US $1.61, or 2%, to US $79.38.
- Naira remain fragile at both the I&E window and on the streets. At the I&E window, Naira appreciated by 1.59%, concluding at a rate of N759.86 against the US dollar. On the streets, the currency saw a slight devaluation of 0.64%, resulting in a valuation of N935 per dollar.
- U.S. natural gas futures fell by more than 2% to more than a one-week low on Wednesday on forecasts for cooler weather, down 5.4 cents, or 2%, at US MInis$2.59 per million British thermal units (mmBtu), its lowest level since Aug. 7.
